SAN LEANDRO, CA--(Marketwired - Apr 5, 2013) - TriNet's SMBeat, a detailed analysis of trends in key human capital economic indicators for small businesses of 50-500 employees, reports that net TriNet employment levels grew 0.59 percent in March, down slightly from February's growth of 0.67 percent. On a regional basis, employment levels in both SoCal biotech companies and NY based financial firms experienced a net decrease. SF Bay Area technology companies saw an increase of 0.73 percent and took the lead for highest average salary at $162,000.
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While job creation remained positive, terminations were also down from 5 percent to 2.24 percent. They were also split nearly evenly between 1.19 percent voluntary quits and 1.21 percent involuntary discharges.
Hiring rates at TriNet's Information Technology companies continue to outpace the fourteen other verticals tracked by this report. TriNet's Information Technology companies saw a net job increase of 2.49 percent compared to an average net increase of 0.25 percent across the fourteen other verticals. TriNet companies in both East and West Coast regions continued to see strong growth in hiring trends and average salary ranges.
The complete SMBeat report is available here.
About SMBeat
SMBeat provides a detailed analysis and a predictive forecast for trends in key human capital economic indicators for small businesses. All reported statistics are seasonally adjusted unless otherwise indicated. All reported months begin 7 days prior to the beginning of the current calendar month and end 7 days prior to the beginning of the next calendar month. TriNet generates payroll information by tracking real-time movements within its base of approximately 5,000 entrepreneurial businesses whose employees earn approximately $100,000 in annual base salary. These companies fall primarily into three broad industry segments: technology, professional services, and financial services. SMBeat aggregates and reports data reflecting compensation, hiring and retention (both involuntary terminations and voluntary resignations), and also provides ongoing analysis of contributing factors to these trends, including regional, industry and seasonal variables. Additional details can be found on the company's SMBeat web page http://www.trinet.com/smbeat. Technical questions can be submitted via email to smbeat@trinet.com.
About TriNet
TriNet is a trusted strategic HR partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet's solutions help contain costs, minimize employer-related risks, and relieve administrative burden to keep an entrepreneur's focus on their core business functions. From employee benefits and payroll processing to high-level human capital consulting, TriNet's Professional Employer Organization (PEO) expertise and best in class systems relieve clients of many of the day to day administrative burdens that distract them from building and growing their businesses. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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